Quick Glance
- 56,000 SF medical office building (MOB)
- Construction completed in 2007
- On-campus building
The Challenge
Develop, construct, and lease an on-campus MOB to concurrently open with the new main hospital.
HCP’s Solution
Provide a turnkey solution as the firm who managed every step from project conception to building occupancy to effectively control project timing and budget.
Summary
In 2006, Platte Valley Medical Center awarded Health Connect Properties (HCP) the contract providing pre-construction, leasing, tenant finish coordination, and property management services for their brand new, on-campus MOB.
The development of the MOB project budget and schedule took immediate precedent as the assignment kicked off. HCP consistently interfaced with the hospital campus Project Manager to assess the MOB’s schedule compared to that of the with the main hospital’s. It was imperative to hospital ownership the MOB’s opening ran concurrently to the rest of their new campus. Once a budget and schedule was established, HCP managed the construction of the building’s core and shell.
Simultaneously, our leasing team worked with the hospital ownership to identify ideal tenants for the MOB. At one point, under our guidance the hospital explored the possibility of structuring physician ownership in the MOB. Ultimately, economic factors led to the building being wholly owned by the hospital. As tenants were identified for the MOB suites, HCP managed the entire lease negotiation and execution process.
The leasing team was able to work side-by-side the project management team to coordinate the space planning and construction of every suite. As our company houses both leasing and project management under one firm, we were able to seamlessly take the tenant’s from lease execution to final punchlist to signoff and finally, occupancy.
As the core and shell and tenant spaces were completely constructed, our leasing and project management teams handed off responsibility to our property management group. We had already conceived the initial plan to operate the building prior to construction and once move-in was complete, we picked up the day-to-day operations of managing the building.
The transition from construction to property management was completely seamless as Health Connect Properties ran every facet. Our company continued to consult the owner on other real estate projects due to the success of MOB I and acted in the same capacity for MOB II and two off-campus clinics.
About Platte Valley Medical Plaza I
Upon its opening in 1960, Platte Valley Medical Center (PVMC) was the first private and general hospital in Adams and southern Weld counties. The original campus was located on seven acres in Brighton until 47 year later, it moved to the prime location of 50 acres at I-70 and 144th. PVMC not only constructed a brand new hospital, but began developing their expansive hospital campus. MOB I was the first campus installment which has since grown to a total of four buildings – the main campus, a diagnostics/treatment building, MOB I, and MOB II.
A 56,000 square foot building, MOB I houses 15 tenant suites including Alcott Women’s Center, Premier Pediatrics, Denver Nephrology, Platte Valley Internal Medicine, and several other service lines. The building is 100% leased.
Resources
“For over a decade, Health Connect Properties was a part of our team at Platte Valley Medical Center. We identified their company as a strategic partner – not just our property managers, brokerage firm, or construction managers. They were involved with our real estate decisions from the ground up through initial development to the actual operations of our MOBs.
Platte Valley saw enormous growth during our partnership with Health Connect Properties. With the construction of our two on-campus MOBs and satellite clinics in Reunion and Ft. Lupton, we were able to expand our footprint and access greater patient populations. They conducted market research, guided the site selection process, brokered the land sales, supervised the construction and budget, leased the properties, and managed the properties once we started seeing patients.
The effectiveness of Health Connect Properties is seen in the end-to-end services they provide. The fluidity of working with their company is a by-product of the quality of people that make up their staff.”
John Hicks
President/CEO
Platte Valley Medical Center